Dave's Dandy Candy store ordered flour, cocoa, and sugar with a list price of $867 from his supplier. The supplier offered a chain discount of 10/20/13 for Dave. What is the net price equivalent rate and the net price of the purchase? Round the net price to the nearest cent.

 
The net price equivalent rate is .
The net price of the purchase is $

To calculate the net price equivalent rate and the net price of the purchase, we can follow these steps:

### Step 1: Calculate the Net Price Equivalent Rate
The net price equivalent rate is found by multiplying the complements of each discount in the chain.

- First discount: 10% → Complement is $ 1 - 0.10 = 0.90 $
- Second discount: 20% → Complement is $ 1 - 0.20 = 0.80 $
- Third discount: 13% → Complement is $ 1 - 0.13 = 0.87 $

Now multiply these complements together:
\[
\text{Net Price Equivalent Rate} = 0.90 \times 0.80 \times 0.87
\]

Let's calculate this:

\[
\text{Net Price Equivalent Rate} = 0.90 \times 0.80 \times 0.87 = 0.6264
\]

So, the net price equivalent rate is **0.6264**.

### Step 2: Calculate the Net Price of the Purchase
The net price is calculated by multiplying the net price equivalent rate by the list price:

\[
\text{Net Price} = 0.6264 \times 867
\]

Now, let's calculate this:

\[
\text{Net Price} = 0.6264 \times 867 = 543.3048
\]

Rounding to the nearest cent, the net price is **$543.30**.

### Final Answer:
- The net price equivalent rate is **0.6264**.
- The net price of the purchase is **$543.30**.

Would you like further details or have any questions? 

Here are some related questions you might find useful:
1. How do you calculate the complement of a discount?
2. What is a chain discount and how is it different from a single discount?
3. How does the net price equivalent rate help in business pricing?
4. What if the discounts were given in a different order?
5. Can you explain the concept of cascading discounts?
6. How would the net price change if there was only a single discount?
7. What is the importance of rounding in financial calculations?
8. How do you calculate the list price from the net

Learn how to calculate the net price equivalent rate and net price of purchase for a business transaction with chain discounts. Follow step-by-step instructions with a detailed example. Suitable for high school students and business professionals.

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